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Fly News Breaks for April 13, 2018
ITI
Apr 13, 2018 | 09:12 EDT
B. Riley FBR analyst Jeff Van Sinderen believes the recent selloff in shares of Iteris is overdone and presents an opportunity for investors. The market overreacted after funds sold shares, recent autonomous vehicle crashes and a ransomware attack, Van Sinderen tells investors in a research note. He says that connected vehicles and smart cities are not dependent on autonomous vehicles. The analyst reiterates a Buy rating on Iteris citing the "substantial" potential upside to his $9 price target.
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